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>> fiscal cliff. fiscal cliff. you think that's funny? fiscal cliff. debt ceiling. ybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referr
>> fiscal cliff. fiscal cliff. you think that's funny? fiscal cliff. debt ceiling. ybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as...
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Oct 2, 2012
10/12
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goes over the fiscal cliff. what's a fiscal cliff? it's a huge tax increase, huge tax increases and huge spending cuts that hit at beginning of january. the bush tax cuts would go away, the amc patch would go away, a whole bunch of things would go away, ashleigh, and that's going to look like for your tax bill next year if we go over the fiscal cliff. >> what's the reality? what is the actual chance this is going to hit us all right smack in the wallet? >> well, we hope, we hope that senators are working on this, right, and they know they've got to get this fixed. it would be disastrous, it would cause a recession. >> "new york times" say, eh, they're talking. >> they're starting to talk about what kind of framework, et cetera, et cetera. this is what it looks like. you've got economists surveyed by cnn money who say basically none of them think we'll go over the fiscal cliff. why? because it's so dangerous. 14 of 17 economists surveyed say falling off a fiscal cliff will mean a recession. 12 said the fiscal cliff is the biggest risk
goes over the fiscal cliff. what's a fiscal cliff? it's a huge tax increase, huge tax increases and huge spending cuts that hit at beginning of january. the bush tax cuts would go away, the amc patch would go away, a whole bunch of things would go away, ashleigh, and that's going to look like for your tax bill next year if we go over the fiscal cliff. >> what's the reality? what is the actual chance this is going to hit us all right smack in the wallet? >> well, we hope, we hope...
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Dec 11, 2012
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. >> it makes the fiscal cliff look small. makes politics look petty. our nation's leaders know all of this, they get the reports and read all of the reports from congress about the chinese economic and security commission and all of this stuff. they know all of this. what we do in the country and our policies in this country are in a world that's changing quite rapidly. more quickly than the french revolution, industrial revolution, these are the seismic shifts but it's happening quickly. >> because of technology? >> yes. >> the world is flat, as tom friedman said and we can do things quicker and that's why so many can be part of the middle class. happy holidays to you. >> it's cool stuff. i think -- >> it's very cool. i was depressed about the fiscal cliff and then you bring this on. we're back after this. with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announc
. >> it makes the fiscal cliff look small. makes politics look petty. our nation's leaders know all of this, they get the reports and read all of the reports from congress about the chinese economic and security commission and all of this stuff. they know all of this. what we do in the country and our policies in this country are in a world that's changing quite rapidly. more quickly than the french revolution, industrial revolution, these are the seismic shifts but it's happening...
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they're worried about the face c fiscal cliff. they say congressional outcome in november matters more than the presidential race. isn't that interesting? >> and look, optics are everything. who is going to be the leader of the free world, but truly the fiscal cliff will matter more to your 401(k), to my 401(k), to the stock market in general. >> because congress has to fit that fiscal cliff. and the fiscal cliff, it is huge spending cuts. so hundreds of government programs will be cut dramatically. and it's massive, massive tax increases. the average family maybe making $50,000 a year, your taxes would go up $3,500. that would hurt. that would mean millions of jobs lost and probably a recession. >> $3,500 you don't invest in the stock market. >> this is why it's incredibly critical to the economy overall. congress holds the key. almost everyone thinks they're going to fix it in time. it will be an 11th hour fix and no one knows how they will fix it. that's what keeps the uncertainty going. >> with 30 seconds left, john boehner, s
they're worried about the face c fiscal cliff. they say congressional outcome in november matters more than the presidential race. isn't that interesting? >> and look, optics are everything. who is going to be the leader of the free world, but truly the fiscal cliff will matter more to your 401(k), to my 401(k), to the stock market in general. >> because congress has to fit that fiscal cliff. and the fiscal cliff, it is huge spending cuts. so hundreds of government programs will be...
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Oct 9, 2012
10/12
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and the fiscal cliff, it is huge spending cuts. so hundreds of government programs will be cut dramatically. and it's massive, massive tax increases. the average family maybe making $50,000 a year, your taxes would go up $3,500. that would hurt. that would mean millions of jobs lost and probably a recession. >> $3,500 you don't invest in the stock market. >> this is why it's incredibly critical to the economy overall. congress holds the key. almost everyone thinks they're going to fix it in time. it will be an 11th hour fix and no one knows how they will fix it. that's what keeps the uncertainty going. >> with 30 seconds left, john boehner, speaker of the house, made some poignant comments with regard to who should be making an effort. >> he said he doesn't think a lame duck congress should be doing it. they shouldn't be doing big bills like this. the others say the only way you can get it done is if you don't have the risk -- >> of being fired. christine romans, thank you. there are a lot of warning lights and sounds vying for you
and the fiscal cliff, it is huge spending cuts. so hundreds of government programs will be cut dramatically. and it's massive, massive tax increases. the average family maybe making $50,000 a year, your taxes would go up $3,500. that would hurt. that would mean millions of jobs lost and probably a recession. >> $3,500 you don't invest in the stock market. >> this is why it's incredibly critical to the economy overall. congress holds the key. almost everyone thinks they're going to...
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Dec 9, 2012
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>>> the fiscal cliff, the fiscal cliff, just 23 days away and if we go over it, automatic spending cuts will take effect, automatically, bam. todd schoenberger is back with me from new york. we spent some time taking questions from viewers who want 20 know how the fiscal cliff will affect them. what will make the headlines? >> bottom line is this, that is if nothing is resolved right now, we are looking at a 20% increase across the board for tax revenue for washington. and you hear a lot about these spending cuts but realistically, we won't see a whole lot of spending cuts, because this way this was actually createded, we would only see spending cuts of .25%. >> one coming from edgar, he says i'm not confused about the fiscal cliff, what i'm confused about is what taxes will be raised? >> that's right. well the payroll tax holiday, it was created in 2010, it had a two-year tax extension, it expires on december 31st. this is a 2% payroll tax that all americans were enjoying. if nothing is resolved, your first paycheck in january is going to be 2% lighter. that may not sound like a lot. b
>>> the fiscal cliff, the fiscal cliff, just 23 days away and if we go over it, automatic spending cuts will take effect, automatically, bam. todd schoenberger is back with me from new york. we spent some time taking questions from viewers who want 20 know how the fiscal cliff will affect them. what will make the headlines? >> bottom line is this, that is if nothing is resolved right now, we are looking at a 20% increase across the board for tax revenue for washington. and you...
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Dec 6, 2012
12/12
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who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we take a dive off that cliff? even though president obama and john boehner chatted on the phone, there's still no deal. republicans are not amused. >> incredibly, many top democrats, including the president, seem perfectly happy. perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two side also come up with a deal. they've moved on already to plan b. the retired teacher in utah has put off plans to get a new car. brian chandler,
who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we...
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Dec 5, 2012
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the number of days before the nation is going to slip over the fiscal cliff and that is what people are talking about. unfortunately, in washington they are not talking to each other about it. right now president obama is meeting with the washington business roundtable. that's just minutes after speaker boehner met with rank and file gop lawmakers and former speaker pelosi met with house democrats. they are all in each other's corners speaking amongst each other but all eyes are on the fiscal cliff. let's scoot over to the president. easy merging from that meeting with the washington business leaders. let's see what he has to say. >> jim, thanks for your leadership. you know, originally my team had prepared some remarks, they always get nervous when i'm out there on my own, never know what i might say. but given the dialogue that we had the last time, i thought it was useful for me to abbreviate my remarks, speak off the cuff at the top and then most of the time just having a conversation. let me begin by saying all of you in this room are not just business leaders, not just ceos of you
the number of days before the nation is going to slip over the fiscal cliff and that is what people are talking about. unfortunately, in washington they are not talking to each other about it. right now president obama is meeting with the washington business roundtable. that's just minutes after speaker boehner met with rank and file gop lawmakers and former speaker pelosi met with house democrats. they are all in each other's corners speaking amongst each other but all eyes are on the fiscal...
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Dec 2, 2012
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i'm not sure that this fiscal cliff really is a fiscal cliff. i think that it changes the baseline. republicans get better negotiating position on the other side when they are not scared to death of their own shadow and fearful of not looking reasonable. to think that the same joker who is got us this compromise will somehow get us a better compromise is absolutely silly. some of these guys have been voted out by the american public. maybe we should wait until the new people who have been through this before and just through the campaign, when they come in and change, i just have a hard time believing this congress, the one that got us into the mess we are dealing with, will somehow field a way to get out of it. >> i understand what you're saying about waiting for the new people to come in, but many of the new people coming in and many of the old people still there are not economists, they are not experts on the economy. they are not experts on the fiscal cliff. if you speak to those who know, they will tell you it is a bad thing to go over that cliff. and still you're saying maybe
i'm not sure that this fiscal cliff really is a fiscal cliff. i think that it changes the baseline. republicans get better negotiating position on the other side when they are not scared to death of their own shadow and fearful of not looking reasonable. to think that the same joker who is got us this compromise will somehow get us a better compromise is absolutely silly. some of these guys have been voted out by the american public. maybe we should wait until the new people who have been...
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Nov 7, 2012
11/12
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and the fiscal cliff, the realities of the fiscal cliff are coming front and center again because congress and the president have two months to go before they need to get a deal going on that situation. brooke? >> alison kosik, we'll keep a look at the numbers there and check back in with you throughout the next few hours. john king, i want to begin with you, in the election itself, i don't know if you slept a wink last night, if much of the nation probably went to bed watching you, through everything last night, what was the biggest surprise in your opinion? >> the biggest surprise, brooke, over to the magic wall and take a look. the biggest surprise is we'll talk more about this in the hour ahead, we're waiting to see who gets florida's 29 electoral votes. a lot of the talk heading into the election is we were waiting on the morning after, it would be in ohio. it went for the president. another surprise for me, if you look at this map and go back to 2008, i'll switch maps in a minute, these are the two take aways for mitt romney. a closer look in terms of the popular vote. from an electo
and the fiscal cliff, the realities of the fiscal cliff are coming front and center again because congress and the president have two months to go before they need to get a deal going on that situation. brooke? >> alison kosik, we'll keep a look at the numbers there and check back in with you throughout the next few hours. john king, i want to begin with you, in the election itself, i don't know if you slept a wink last night, if much of the nation probably went to bed watching you,...
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Sep 21, 2012
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what about, you mentioned the fiscal cliff, the fiscal cliff is looming, called it a manufactured crisis. what about the republicans, though? your party -- do the republicans need to give in on opposition to raising taxes to help the deficit? do they need to give in? >> you know, the point is here, brooke, is have the committees address these issues in a timely fashion, as i mentioned, which would have been, frankly, last year, you know? asint committsign the committeed have had tax reform and get everybody on board. >> but that didn't happen. as we well know. what about now? what about republicans? will they give in? >> well, it is a question of what we're giving in -- it is not a question of giving in, it is what is it that we're going to address and how we're going to address it for the future of the country? what are the ideas and what is the merit of a plan and who is going to be drafting? we have to have people have been elected by their constituents, anticipating the committee process to get this done. that's why i argue with the majority of the leader in the letter. have us lay t
what about, you mentioned the fiscal cliff, the fiscal cliff is looming, called it a manufactured crisis. what about the republicans, though? your party -- do the republicans need to give in on opposition to raising taxes to help the deficit? do they need to give in? >> you know, the point is here, brooke, is have the committees address these issues in a timely fashion, as i mentioned, which would have been, frankly, last year, you know? asint committsign the committeed have had tax...
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Nov 9, 2012
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the fiscal cliff isn't a cliff. it is not like the debt ceiling confrontation where terrible things might have happened if the deadline had been missed. he fwoez on this time nothing very bad will happen to the economy if agreement isn't reached until a few weeks or few months in to 20 13 so there is time to bargain. what do you think. >> i don't have a phd in economics and that makes me concerned. there's a problem. one issue which krugman is right about. going off the fiscal cliff does what a lot of people think needs to happen. it spreads pain across a variety of americans. we may dip in to a recession, but heck we sure do solve the debt crisis, don't we? that said it is pretty easy to be cavalier and say it is no big deal. how do you feel if the dow goes down 2 thourk points in the interim or one of the people that loses a job because your company is freaking out over this debate going on and on and on. i don't think it is fair to say it is no big deal. it is a big deal. is it the end of the world? no. nothing i
the fiscal cliff isn't a cliff. it is not like the debt ceiling confrontation where terrible things might have happened if the deadline had been missed. he fwoez on this time nothing very bad will happen to the economy if agreement isn't reached until a few weeks or few months in to 20 13 so there is time to bargain. what do you think. >> i don't have a phd in economics and that makes me concerned. there's a problem. one issue which krugman is right about. going off the fiscal cliff does...
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Sep 24, 2012
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the fiscal cliff will mean big cuts to federally funded research. and this is the way one of the industry groups has looked at this. 200,000 job cuts by next year. the cost of gdp could be $860 billion. so what does that mean? how much is that? if you look at the low end of estimates for what the economy will be hurt, how badly hurt by just cuts it is six months of new vehicle perches, two years of airline travel, six years of professional sporting events. that is the impact it would have. that activity would be taken out of the economy. >> we are going to make these cuts and be fiscally restraining ourselves. do we all of a sudden get a boost and get the credit agency saying good job. >> it would put the u.s. in a better footing on the debt front. we do need to work on the debt and deficit front. but the down side of that to get the better debt footing you would face probably a very crushing recession. >> we go over that cliff into the whole of recession. >> congress is supposed to be a little more nuanced than this. this congress cannot handle g w
the fiscal cliff will mean big cuts to federally funded research. and this is the way one of the industry groups has looked at this. 200,000 job cuts by next year. the cost of gdp could be $860 billion. so what does that mean? how much is that? if you look at the low end of estimates for what the economy will be hurt, how badly hurt by just cuts it is six months of new vehicle perches, two years of airline travel, six years of professional sporting events. that is the impact it would have. that...
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Nov 17, 2012
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there are two ways in which the fiscal cliff can be avoided. way number one is if between now and january 1st, congress and the president decide to delay everything. delaid the tax increase that would come about because of the end of the bush tax cuts and delay spending cuts to a date, say march 15th, by which time they would have to come up with a grand bargain with respect to deficit reduction. that's possible. this congress and president have shown their ability to kick the can down the road and they could do it again. the second way is if they came to a grand bargain on taxes and deficit reduction in late january or even february that was retroactive to jb 1st. if it's retroactive to january 1st and everybody knows it's likely to be retroactive to january 1st, it's not going to have the same effect on the economy, more like a hill. >> a fiscal mole hill. what areas can and should the president compromise, and if the gop asked, what areas should the gop and house compromise? >> the president has made it clear he won the election. therefore,
there are two ways in which the fiscal cliff can be avoided. way number one is if between now and january 1st, congress and the president decide to delay everything. delaid the tax increase that would come about because of the end of the bush tax cuts and delay spending cuts to a date, say march 15th, by which time they would have to come up with a grand bargain with respect to deficit reduction. that's possible. this congress and president have shown their ability to kick the can down the road...
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Dec 30, 2012
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>> which one a tax reform deal or the fiscal cliff deal? >> no, the fiscal cliff deal, and what might they be arriving at in the next day or so? >> well, here is what we are hearing. i will believe none of it until i see it. >> right. >> the rates will go up for high income people, and we don't know how high income, president obama wants $250,000 as the threshold, but republicans are pushing for more than $400,000, but it is splitting hairs at a certain point and especially now in the 11th hour or less than 30 hours away from the deadline. so we will see that, and we hope that they are going to put an amt patch in to protect the middle-class in from playing the wealth year for tax year 2012 yet, and we are totally running out of time on that one, and we have a bunch of tax extenders for businesses and individuals and they have expired and will they extend those? and the payroll tax will certainly expire and nobody is talking about that. the first pay xhek in jcheck in will be smaller regardless because of that. >> and you are so good at giv
>> which one a tax reform deal or the fiscal cliff deal? >> no, the fiscal cliff deal, and what might they be arriving at in the next day or so? >> well, here is what we are hearing. i will believe none of it until i see it. >> right. >> the rates will go up for high income people, and we don't know how high income, president obama wants $250,000 as the threshold, but republicans are pushing for more than $400,000, but it is splitting hairs at a certain point and...
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Jul 22, 2012
07/12
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economists now say that the so-called fiscal cliff has now overtaken europe as the biggest threat to the u.s. economy. in other words, our home-grown storm has a bigger chance of causing a hurricane here than the actual hurricane that's blowing our way from europe. i've been berating congress on this show to pass legislation now to head off a series of tax increases and spending cuts mandated to take effect on january 1st. because congress couldn't come up with a better deal to raise the nation's debt limit last year. i am not alone in my calls. the federal reserve chairman and the international monetary fund are warning congress to act before it's too late. if you get hit by another recession, you'll join me in pointing my finger directly at the political partisanship that sr. has poisoned your path to economic stabi a
economists now say that the so-called fiscal cliff has now overtaken europe as the biggest threat to the u.s. economy. in other words, our home-grown storm has a bigger chance of causing a hurricane here than the actual hurricane that's blowing our way from europe. i've been berating congress on this show to pass legislation now to head off a series of tax increases and spending cuts mandated to take effect on january 1st. because congress couldn't come up with a better deal to raise the...
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Dec 24, 2012
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our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it comes to tax increases. that was last week. >> dana, you were saying that when you were reporting on it when it was breaking that evening, you called that devastating for john boehner. now that hou
our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of...
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Dec 31, 2012
12/12
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>> no vote tonight on the fiscal cliff. what are the chances of lawmakers cobbling a compromise tomorrow? would real pain start to hit everyone in the form of tax hikes and spending cuts? what other options do lawmakers have as a last resort. steven moore joins us from washington. steven is a senior economics writer with "the wall street journal." he writes op-eds. he's involved in the opinion pages. he's also a co-founder of the organization called club for growth, which has really been at the forefront of fighting tax increases across the board. so, you know, sometimes, steven, on tv we talk about grover norquist and a lot of people really don't like him. you think grover has the right idea. you have colleague es in the senate, in the house of representatives. we have talked about this endlessly for many months and we both sort of went into the last few days thinking they'll get a deal, they'll do it. it will increase some tacks on the rich and we'll figure out a number. i think both of us put forward it would be $500,000
>> no vote tonight on the fiscal cliff. what are the chances of lawmakers cobbling a compromise tomorrow? would real pain start to hit everyone in the form of tax hikes and spending cuts? what other options do lawmakers have as a last resort. steven moore joins us from washington. steven is a senior economics writer with "the wall street journal." he writes op-eds. he's involved in the opinion pages. he's also a co-founder of the organization called club for growth, which has...
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Nov 28, 2012
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only you can avoid the fiscal cliff. talk back question today, will the president's fiscal cliff road tour work? have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. for the latest smartphone. you wanna see if walmart has the same phone, for less? let's see! samsung galaxy s3 --- you could save over $50. no way! and -- you get a $100 gift card. are you serious?! yes! see for yourself how much you can save on the smartphones you want for christmas. walmart. up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪
only you can avoid the fiscal cliff. talk back question today, will the president's fiscal cliff road tour work? have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of...
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Nov 26, 2012
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to that fiscal cliff? the number three republican in the house, kevin mccarthy is going to be here in "the situation room." the house majority whip. and also alan krueger, the chairman of the president's council of economic advisers is going to be here as well. we're trying to gauge if there's going to be a deal or no deal and what it means for our viewers. glad you noticed, brooke. >> of course i noticed. i was so proud of you. i was proud of cnn. i thought the coverage was incredible, watching back here in the u.s. but i have to ask, i know you have a daughter and a lovely wife. did you get a chance to have a thanksgiving? >> yes, i got back in time for thanksgiving. i flew all night. tel aviv, frank forfurtrankfurt here to d.c. i had turkey and cranberry sauce and all that. here's a question i'm going to ask you, brooke -- a year ago last night, where were you -- >> ding. b.e.t. soul train awards. >> did you watch last night? >> i did not. >> what do you mean you did not? i watched, of course. >> if i'm
to that fiscal cliff? the number three republican in the house, kevin mccarthy is going to be here in "the situation room." the house majority whip. and also alan krueger, the chairman of the president's council of economic advisers is going to be here as well. we're trying to gauge if there's going to be a deal or no deal and what it means for our viewers. glad you noticed, brooke. >> of course i noticed. i was so proud of you. i was proud of cnn. i thought the coverage was...
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Nov 17, 2012
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>> the clock is ticking on avoiding the fiscal cliff. the president, as he sat down at the white house friday with top congressional leaders from both parties. americans agree in a poll that it is extremely or very important for the president and congress to reach a deal. >> i believe we can do this and avert the fiscal cliff. >> reporter: and that's what most people want. they say that republicans and democrats should compromise to prevent massive spending cuts and tax hikes from beginning to kick in at the beginning of the year. so what do they want in any deal? 45% say it should be about half spending cuts and half tax increases with four in ten saying it should be mostly or only spending cuts. and according to exit polls from election night, nearly half of voters said raising taxes on the wealthiest americans was okay. taxes may be the biggest sticking point in reaching a deal. >> what i'm not going to do is to extend bush tax cuts for the wealthiest 2% that we can't afford and according to economists will have the least positive imp
>> the clock is ticking on avoiding the fiscal cliff. the president, as he sat down at the white house friday with top congressional leaders from both parties. americans agree in a poll that it is extremely or very important for the president and congress to reach a deal. >> i believe we can do this and avert the fiscal cliff. >> reporter: and that's what most people want. they say that republicans and democrats should compromise to prevent massive spending cuts and tax hikes...
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Dec 30, 2012
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the clock is ticking, literally, to the fiscal cliff. and as others have noted today, we have known about this cliff for 500 days. this is the world's most anticipatable political and economic problem. congress set this time bomb, now they are scrambling to defuse it before it goes off and threatens to take our economic recovery as a country and kick us back into recession. the fact this is happening in last-minute negotiations and great knew as dana bash reported that joe biden and mitch mcconnell seem to be backchanneling and got a constructive relationship in the past, this is great but this is all being done piecemeal and that fact shouldn't give anybody a great deal of confidence it is pathetic we are here at this hour facing the fiscal cliff. >> that's the point i wanted to raise with you. you obviously have followed congress. you know how all this inside trading works, so to speak. does it feel like the wheels are coming off that we are now off the script, that this is totally in territory we had not anticipated we would be at? >>
the clock is ticking, literally, to the fiscal cliff. and as others have noted today, we have known about this cliff for 500 days. this is the world's most anticipatable political and economic problem. congress set this time bomb, now they are scrambling to defuse it before it goes off and threatens to take our economic recovery as a country and kick us back into recession. the fact this is happening in last-minute negotiations and great knew as dana bash reported that joe biden and mitch...
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Nov 29, 2012
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so that will put him front and center in the fiscal cliff debate. also earns him a meeting today with the current treasury secretary, tim geithner. cnn's kate ballolduan on capito hill, day 33, eek, 33 days, tim geithner kicking into this process. we would assume possibly pushing into high gear or more of a photo op or a little bit of both? >> reporter: it remains to be seen. i hate having to say that for our viewers, but we're waiting to hear exactly what comes out of these meetings. important, nonetheless, because these are face-to-face meetings with principle players, timothy guide next the treasury secretary, tapped by the president to be the point person to spearhead the negotiations with congress over these fiscal cliff negotiations. we had had a brief shot of him arriving this morning as he was coming into the capitol. he's being joined by rob neighbors, the white house liaison to congress. he's a man that has long standing relationships with folks on capitol hill. series of meetings, all individual meetings, senator reid, told by my colleagu
so that will put him front and center in the fiscal cliff debate. also earns him a meeting today with the current treasury secretary, tim geithner. cnn's kate ballolduan on capito hill, day 33, eek, 33 days, tim geithner kicking into this process. we would assume possibly pushing into high gear or more of a photo op or a little bit of both? >> reporter: it remains to be seen. i hate having to say that for our viewers, but we're waiting to hear exactly what comes out of these meetings....
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Nov 26, 2012
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pink unicorns, part of the fiscal cliff discussions now. let me bring in cnn contributor anna navarro who claims she has never seen me during the daylight. great to see you during the daylight, anna. >> how are you, john? >> good, i'm doing well, thank you is this over tour, these statements from the people like saxby chambliss, lindsey graham, is this what people are hoping to see in terms of reaching a deal? >> i think it's an important moment. i think what people are saying is, this is not about pledges. let's not allow for the tail to wag the dog. this is not about a pledge. this is about finding a solution. let's not be boxed in. let's have the ability to be creative, think outside the box. and come up with a solution that works for america. and i think they're getting sick of being held to pledge here, pledge there. you know, it's almost like read my lips. no new pledges. >> let me just read the pledge, so people know what we're talking about here. it says, number one, oppose all efforts to increase the marginal tax rates for individu
pink unicorns, part of the fiscal cliff discussions now. let me bring in cnn contributor anna navarro who claims she has never seen me during the daylight. great to see you during the daylight, anna. >> how are you, john? >> good, i'm doing well, thank you is this over tour, these statements from the people like saxby chambliss, lindsey graham, is this what people are hoping to see in terms of reaching a deal? >> i think it's an important moment. i think what people are saying...
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Dec 5, 2012
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first, the fiscal cliff. the fiscal cliff sound bites, they are flying even if the actual negotiations are at a stand still. president obama says republicans, they're the ones that need to take the next step here. republicans say no way, ball's in your court, mr. president. >> we can probably solve this in about a week. it is not that tough. >> now we need a response from the white house. we can't sit here and negotiate with ourselves. now, the revenues we're put on the table are going to come from, guess who, the rich. >> if we can get the leadership on the republican side to take that framework, take knowledge of that reality, then the numbers actually aren't that far apart. >> where are the specifics, where are the discussions? nothing is going on. >> passing middle income tax cut means the end of holding them hostage from tax cuts for the middle -- for the rich. >> i think the next 72 hours are critical. if he sits back and continues to play politics, that will give your answer of where we're going. this
first, the fiscal cliff. the fiscal cliff sound bites, they are flying even if the actual negotiations are at a stand still. president obama says republicans, they're the ones that need to take the next step here. republicans say no way, ball's in your court, mr. president. >> we can probably solve this in about a week. it is not that tough. >> now we need a response from the white house. we can't sit here and negotiate with ourselves. now, the revenues we're put on the table are...
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Dec 6, 2012
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they don't want to go over the fiscal cliff. they don't necessarily think the difference is separating these two sides are unbridgeable or unrealistic. they can work out a deal. they have to be adults and be serious and make concessions to the other side and you won't get 100% of what you want. that's the art of compromise. in order to avoid a disaster, the mandatory spending cuts and domestic spending and defense spending, the mandatory increases across the board taxes from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want the president and john boehner, the republican leadership and democrati
they don't want to go over the fiscal cliff. they don't necessarily think the difference is separating these two sides are unbridgeable or unrealistic. they can work out a deal. they have to be adults and be serious and make concessions to the other side and you won't get 100% of what you want. that's the art of compromise. in order to avoid a disaster, the mandatory spending cuts and domestic spending and defense spending, the mandatory increases across the board taxes from everyone if we go...
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Dec 21, 2012
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we may go off the fiscal cliffs. we'll talk to dana later. also house speaker john boehner will hold a press conference live at the top of the hour. >>> across the midwest people are trying to clean up from the first blizzard of the season, blinding snow being blamed for this 30-car pile-up on interstate 35 near ft. dodge, iowa. two people died in this accident. the storm cut power to 20,000 in iowa this morning, a half a foot to a foot of snow has fallen across the midwest. wisconsin has declared a state of emergency and the storm is moving toward ohio, pennsylvania and the northeast and it all comes as holiday travelers begin their journey home for christmas. be careful out there. >>> guns in schools in the wake of the connecticut shooting. more states talk about putting weapons in the classroom. just ahead we'll talk to the superintendent of one school district that already allows its employees to carry guns. [ male announcer ] this december, remember -- you can stay in and share something... or you can get out there and actually share som
we may go off the fiscal cliffs. we'll talk to dana later. also house speaker john boehner will hold a press conference live at the top of the hour. >>> across the midwest people are trying to clean up from the first blizzard of the season, blinding snow being blamed for this 30-car pile-up on interstate 35 near ft. dodge, iowa. two people died in this accident. the storm cut power to 20,000 in iowa this morning, a half a foot to a foot of snow has fallen across the midwest. wisconsin...
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Nov 9, 2012
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let's talk about what the fiscal cliff is. starting in the beginning of the year because of a deal the congress did last year to raise the debt ceilings, all these things will go into play at the same time, big spending cuts, bush tax cuts expire, minimum tax cut goes away, payroll tax holiday goes away, unemployment benefits extension. whole bunch of things. middle income households making, say, $50,000 a year would see their tax bill rise $2,000. $2,000 for the year. immediately your paycheck, you would notice a change there o r overall, certainly in what you pay when you pay your taxes. this is the spending part of it. 8% to 10% cuts in budgets for everything you could think of, from the fda, centers to disease control, education, border patrol, cdc director has said this. 8% to 10% reduction will risk costy and deadly spread of disease and failures to prevent tragic and expensive health problems. yeah. this is something that really matters. a math problem between democrats and republicans is something that matters to every
let's talk about what the fiscal cliff is. starting in the beginning of the year because of a deal the congress did last year to raise the debt ceilings, all these things will go into play at the same time, big spending cuts, bush tax cuts expire, minimum tax cut goes away, payroll tax holiday goes away, unemployment benefits extension. whole bunch of things. middle income households making, say, $50,000 a year would see their tax bill rise $2,000. $2,000 for the year. immediately your...
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Nov 9, 2012
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there is no fiscal cliff, he writes. it's a gentle hill. well, here's the fact. you don't get $7 trillion of cuts on tax increases day one. no one says that. what you get day one, you revert back, the bush tax cuts disappear, everyone taxes go up, you have budget cuts across the board and the entire economy resetting. and over ten years, $7 trillion in cuts. simpson/bowles is $4 trillion between now and 2020. that's well thought-out and strategic -- >> surgical? >> surgical, i would say. the fiscal cliff is a big, dull hatchet and that is not going to create jobs. >> so cnn money, you're familiar with them. fiscal cliff as a whole went into effect next year, could result in a .5% in gross domestic product according to cbo. and that contraction could push employment to 9.1% by the end of 2013. >> and you hear liberals say, they would rather see that over the next year than to give up -- have the president cave again on tax rates. >> that's intransigence on both sides. again, i keep calling it the kum ba yah moment. christine, excellent, thank you. we have lots mor
there is no fiscal cliff, he writes. it's a gentle hill. well, here's the fact. you don't get $7 trillion of cuts on tax increases day one. no one says that. what you get day one, you revert back, the bush tax cuts disappear, everyone taxes go up, you have budget cuts across the board and the entire economy resetting. and over ten years, $7 trillion in cuts. simpson/bowles is $4 trillion between now and 2020. that's well thought-out and strategic -- >> surgical? >> surgical, i would...
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Nov 15, 2012
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we're at 47 days still the fiscal cliff shows up. most of what we hear about the fiscal cliff is panic and alarm and tax hikes and spending cuts and all of this is set to kick off at the beginning of the year. face the dire consequences or else. get your parachute. guess what, there's somebody who knows a thing or two about money who doesn't seem to be anywhere near as worried as those other people who are telling us we're about to plummet. it's billionaire warren buffett. he says as long as president obama holds firm on the wealthiest americans paying more taxes, we can just go on right over that fiscal cliff and we will not dive back into recession. how do i know this? because poppy harlow knows this. she sat down for the exclusive interview. you have the greatest access to warren. every time there's news, you seem to get it. i was looking at your interview earlier. he's very candid with you about this. this doesn't look like it's for political gain in any way. we're past the election. it's incredible what he said. >> it really sur
we're at 47 days still the fiscal cliff shows up. most of what we hear about the fiscal cliff is panic and alarm and tax hikes and spending cuts and all of this is set to kick off at the beginning of the year. face the dire consequences or else. get your parachute. guess what, there's somebody who knows a thing or two about money who doesn't seem to be anywhere near as worried as those other people who are telling us we're about to plummet. it's billionaire warren buffett. he says as long as...
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Dec 27, 2012
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fiscal cliff. es it d to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta
fiscal cliff. es it d to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher...
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Dec 31, 2012
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is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the big issue has been to get over objections from conservative republicans who are not going to be happy with any potential deal. i just spoke with tom harkin who is a democrat being from iowa. and he's also a leading progressive. he said that he and other progressives might be the ones object or to try to stop any potential deal. the reason he says he's so upset is because he does not like the idea that we have been reporting of keeping the tax cuts in place of income levels up to $450,000. he believes that's too high. the president, as we know, campaigned with a lot of democrati
is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the...
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Nov 9, 2012
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swaps and fiscal cliff. it's a cliff that if we go over, growth drops very dramatically. a lot of money is paid out of the economy, and the economy goes from 2% growth right now where it is to about negative 1.5% growth. that would be a recession. as that car gets over that cliff, there will be an average kras, according to the congressional budget office of $3,500 per household in tax increases. this is the spending cuts. this is the bush tax cuts going away. this is the alternative minimum tax patch going away, the payroll tax holidays. $3,500 per household increase. $109 billion in automatic across the board spending cuts will take effect. half of them will be in defense. half of them will be in nondefense. the congressional budget office, the nonpart sflan body says millions of jobs will be lost, a million next year alone. unemployment will jump to % next year, and, of course, we'll be back in that recession. now, in fairness, suzanne, most thinking people don't think we'll get there, but most thinking p
swaps and fiscal cliff. it's a cliff that if we go over, growth drops very dramatically. a lot of money is paid out of the economy, and the economy goes from 2% growth right now where it is to about negative 1.5% growth. that would be a recession. as that car gets over that cliff, there will be an average kras, according to the congressional budget office of $3,500 per household in tax increases. this is the spending cuts. this is the bush tax cuts going away. this is the alternative minimum...
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Dec 4, 2012
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the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired.
the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it...
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with the fiscal cliff. it's called his deficit reduction plan, and he has made a couple of things clear. that we can't reduce the deficit without putting revenue on the table, and i think that on election day the overwhelming majority of the american people are going to agree with him. he is also going to not agree to anything that extends as high-end bush tax cuts. you know, the way forward on the fiscal cliff is pretty clear. i think that when the american people vote on tuesday they're going to make their feelings on the way forward clear, and hopefully that means that we'll have some more willing partners across the aisle to forge consensus on this. >> let's talk about the willing partners because right now the republican campaign is arguing, well, if you put mitt romney in another republican, is he going to work better with fellow republicans to avoid falling off this cliff. we expect the balance of power and the house and senate basically are iffing to stay the same. what will the president do to chan
with the fiscal cliff. it's called his deficit reduction plan, and he has made a couple of things clear. that we can't reduce the deficit without putting revenue on the table, and i think that on election day the overwhelming majority of the american people are going to agree with him. he is also going to not agree to anything that extends as high-end bush tax cuts. you know, the way forward on the fiscal cliff is pretty clear. i think that when the american people vote on tuesday they're going...